Widely followed crypto analyst Michaël van de Poppe predicts that NEAR Protocol (NEAR), one of Ethereum’s (ETH) major rivals, could soon see a major increase in value. Van de Poppe predicts that NEAR’s price could increase by 275%, and that this increase could happen in the next six months.

Van de Poppe notes that NEAR has retested a critical support level and that holding this level will be decisive for the general direction of the market. “The markets are currently preparing for a reversal. NEAR has retested a critical support level and there is a high probability that it will hold this level. If it can hold the $2.75-$3.40 range, I think we could see $15 in the next three to six months,” the analyst says. These comments are considered a strong signal that NEAR’s value could increase significantly.

From the Poppe$PEOPLE

He also makes remarkable predictions about Bitcoin (BTC). He predicts that Bitcoin could reach $60,000 again in the short term. Stating that Bitcoin has left its downward trends behind and passed $56,000, van de Poppe said, “I would be happy to see this scenario: It is expected to make a slight retest at $55,000-55,500 and rise from there to $60,000-61,000 next week. This outlook is quite positive.”

Noting that the general correction in the crypto market is about to end, van de Poppe predicts that many altcoins could start significant rallies against Bitcoin. “The bottom has already been passed for altcoins and Bitcoin. The Bitcoin trading pairs of many altcoins have started to move upwards and many technical signals confirm this. This will be great. Congratulations, you are past the painful period,” he says.

However, he added that there is a possibility that the ETH/BTC pair will face a deeper correction before recovering. Van de Poppe stated that Ethereum is currently going through a difficult period and that a deep correction may be experienced in the ETH/BTC pair. “ETH is the worst performer of this cycle. The bullish divergence is not confirmed. There is a really bad outlook and the possibility of a bottom is high. If Bitcoin goes to $60,000-61,000, I expect ETH to fall below 0.04 BTC with no chance of a comeback,” he said. The current price of the ETH/BTC pair is at 0.04081 BTC ($2,361).

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